This fall, our team attended a seminar focused on Elder Abuse and Reporting. Besides learning about the laws, regulations and definitions associated with elder abuse, we were updated on common elder abuse and consumer scams. Due to accessibility during business hours, possibility of greater discretionary income, and vulnerability to confusion, memory loss, and isolation, fraudsters…
This fall, we helped several of our client families navigate the complexities of the Free Application for Federal Student Aid (FAFSA). The College Board has released college cost data for the 2018-2019 school year in its annual Trends in College Pricing report recently. Here are the highlights: 4-Year Public Colleges (in-state students): Tuition and fees increased an…
The horrific wildfires impacting California serve an unfortunate reminder on the importance of preparing for a disaster. Operation Hope and FEMA have compiled an Emergency Financial First Aid Kit (EFFAK) to help you prepare financially and provide tips to reduce the impact that disasters can leave you with. The four simple steps to financial emergency preparedness…
Beginning on November 1, 2018, individuals (including their families) may apply for new health insurance or switch to a different health-care plan through a Health Insurance Marketplace under the Affordable Care Act (ACA). The open enrollment period for 2019 health coverage ends on December 15, 2018. Individuals can use Health Insurance Marketplaces to compare health…
What is the Medicare Open Enrollment Period? The Medicare Open Enrollment Period is the time during which people with Medicare can make new choices and pick plans that work best for them. Each year, Medicare plan costs and coverage typically change. In addition, your health-care needs may have changed over the past year. The Open…
Last week, I enjoyed leading a class for the Neighborhood Economic Development Corporation (NEDCO) and their Financial Foundation course. For more than 35 years, NEDCO has been building opportunities in our community. By supporting financial stability and responsible homeownership, providing access to markets for local farmers and food producers, and creating unique programs for micro-businesses,…
As of today, fees previously associated with a credit freeze have disappeared. This has renewed the conversation around placing a credit freeze and identity protection. Last fall in the wake of the Equifax data breach, we shared strategies for adults to protect their credit. But, this leaves a vulnerable population prey to criminals: minor children. Should you…
On December 18, 2017, our office posted an article titled, “What to Make of the Rise in Bitcoin and Other Cryptocurrencies?” On the previous day, Bitcoin reached an all-time high of nearly $20,000 – a price it has not seen since. During this time, the discussion of Bitcoin grew to such a frenzy even my…
It’s no secret that a 529 plan offers tax advantaged growth for college expenses like tuition, books, supplies, etc. What isn’t as clear is who should own the account? The parent or the grandparent? As CERTIFIED FINANCIAL PLANNERS™, we get this question a lot, especially in the fall. It’s on the mind of many as…
As many of our client families approach age 70½, they begin to consider the impact their required minimum distribution will have on their income and tax liability. A common question that crosses their minds: Should I consider delaying my first required distribution? A required minimum distribution, often referred to as an RMD or minimum required distribution, is…